Best to Start Social Security at 70? Usually but not Always
Two articles here explore the advice most financial professionals give, which is to delay claiming Social Security benefits until age 70 to maximize the monthly payout for life. Of course the caveat with that is eight years (96 months) of having collected zero benefits, considering one could have started reduced benefits at age 62. How long does it take to “break even?” Is it worth it for all? What about if one is in poor health? For answers, you’ll want to read John Csiszar’s article in Yahoo Finance here as well as Maurie Backman’s cautionary advice in this Motley Fool piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.